The Farm Record Book. Table of Contents

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2 The Farm Record Book This Farm Record Book is designed to provide a farmer with an organized system for recording expenses, income, land use and treatment, social security and income tax information. Inventory and depreciation schedules are kept in a separate book titled the Louisiana Farm Inventory Record. No farm record book will be any more accurate or complete than the farm manager makes it. Entries should be made daily as a sale or purchase is made so nothing is forgotten. Farm records are of little value unless properly used. The proper farm analysis depends on the individual situation. While many different types of farm analysis can be made, the manager should consider analyzing the use of and returns to the farm's most limited resource. Each year, a net worth statement should be completed so the manager can judge the economic success or failure of the farm. The Louisiana Farm Record Book was designed and intended to be used as an important farm management tool. No provision has been made in this book for recording household, personal or non-farm transactions. These transactions should be recorded elsewhere because income taxes and family planning are affected. Other record books are available in pdf format on our website: Table of Contents Cash Farm and Income... Cash Farm... Cash Farm Expense Totals... Cash Farm Income...0 Cash Farm Income Totals... Farm Cash Flow... Income Statement... Operating Loan / Open Accounts... Enterprise Analysis... Lease Agreements... Crop Mix... Miscellaneous Information...

3 CASH FARM EXPENSES & INCOME The purpose of keeping business expense and income information is to create reports about the business. These reports are used to analyze the business's current financial situation (sources of income, expenses and spending habits) and to plan for the future. Financial information must be organized in an easily understood manner. Organized information tells important facts about the financial situation of the business. Simply listing each transaction for the year makes the manager's job more difficult and time consuming. Think of the manager searching through a very large box of buttons to find a matching set. Using expense and income categories to summarize business transactions makes the information easier to understand and analyze. Farm managers need to know about the expense and income transactions of the business if the business is to be correctly managed. Expense transactions tell the manager how much money is leaving the business, what the expenses are and what each enterprise costs. Income transactions provide information about how much income the business is generating, what items were sold to generate the income and what enterprise produced those items for sale. A manager who can reduce expenses while maintaining current income levels can increase business profits. Likewise, a manager who can increase income while maintaining expenses can increase profits. Different types of businesses have different kinds of income and expenses. For example, insecticides and herbicides are major expenses for cotton growers, but the items are minor expenses for a hog farmer. Hog farmers are more interested in feed and veterinary expenses. A cotton farmer receives income from the sale of cotton lint and seed, and a hog farmer's income comes from the sale of hogs. Each manager must decide what expense and income items are important for understanding the particular business. Some farm businesses have more than one enterprise. The cotton grower may also grow soybeans, or the hog farmer may grow corn. The expenses and income of each enterprise should be kept separately. Common Farm Business Expense Categories: Payroll Chemicals Repairs and Maintenance: Buildings and Facilities Other Farm Feed Purchases Custom Work Hired Utilities Principal Payments Veterinary Fuel, Oil and Grease Tax, Interest and Insurance Purchases: Capital Items & Livestock Fertilizer and Lime Repairs and Maintenance: Machinery Rent or Lease Payments Seeds and Plants Repairs and Maintenance: Equipment Supplies Common Farm Business Income Categories: Crop Sales Custom Work Income Interest and Dividend Income Miscellaneous Income Refunds Livestock Sales Agricultural Program Payments Expense and income categories group business transactions so a manager can more easily study the business and conduct an analysis of the business.

4 CASH FARM EXPENSES - EXAMPLE Total Amount Paid Payroll Feed Purchases Date Num Paid To / Farmers Co-Op ( bu $.0 per bu) 0 0 /0 Deere Co. ( ft rotary mower) 0 0 TOTALS, 0 0 Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired Date Enter the date the activity or event took place. Num Enter the check number if a check was written, "cash" if payment was made in cash or credit card name if payment was by credit card. Paid To Enter the name of the person or company receiving either the check or cash payment. Describe briefly the expense item - kind, quantity and price. () Total Amount Paid Enter the total amount paid for the purchased items. The total of this column should equal the sum of columns through. (Note : Paying personal expenses from the farm accounts will result in overstated farm costs and understated profits. Payments that are made for both business and personal uses should be divided into business and personal amounts, and only the business amount should be used in calculating business expenses.) () Payroll Enter the amount paid for hired labor. Also enter all expenses associated with labor such as FICA, workers' compensation insurance, etc. () Feed Purchases Enter the amount paid for purchased grain, hay, minerals, salt and other feed such as supplements, starter feed, etc. () Veterinary Enter the amount paid for veterinary services and supplies (wormers, medicines, vaccines, farm calls, syringes, etc.) () Fertilizer and Lime Enter the amount paid for purchased fertilizer and lime. () Seeds and Plants Enter the amount paid for purchased seeds, plants, trees, vines, etc. () Chemicals Enter the amount paid for insecticides, herbicides, fungicides and other chemicals. DO NOT include chemicals for livestock use. () Custom Work Hired Enter the amount paid for machine hire and custom work such as combining, hay baling, etc. (NOTE : If a share of the production is given in lieu of any cash farm expense, do not enter this amount as an expense.)

5 CASH FARM EXPENSES - EXAMPLE (CONTINUED) 0 Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock () Fuel, Oil and Grease Enter the amount paid for fuel, oil and grease including gasoline, butane, diesel, etc. (See NOTE.) (0) Repairs & Maintenance - Machinery Enter the amount paid for repairs and maintenance of self-propelled equipment such as trucks, tractors, combines, etc. (NOTE : Major expenses that are to be charged to more than one year's operation should be entered as "Capital Purchases" in column.) () Repairs & Maintenance - Equipment Enter the amount paid for repairs and maintenance for towed equipment such as discs, planters, trailers, pumps, etc. (See NOTE.) () Repairs & Maintenance - Buildings and Facilities Enter the amount paid for repairs and maintenance for barns, fences, roads, bridges, ponds, etc. (See NOTE.) () Utilities Enter the amount paid for electricity, telephone, water, Internet service, electronic data services, etc. () Tax, Interest and Insurance Enter the taxes paid on the farm property, equipment, etc. Enter the insurance paid on farm property, crops, livestock and farm accident and liability insurance. Enter the interest paid on farm mortgages, farm notes, current farm operating expenses, etc. () Rent / Lease Payments Enter the amount paid for the rent or lease of land, equipment or livestock. () Supplies Enter the amount paid for farm supplies such as paper towels, office supplies, soap, gloves, boots, subscriptions, business travel, etc. () Other Farm Enter the amounts paid for items that do not fit elsewhere. () Principal Payments Enter the amount paid on principal of notes. () Purchases - Capital Items and Livestock Enter the amount paid for livestock, equipment and improvements that are to be depreciated.

6 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

7 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

8 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

9 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

10 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

11 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

12 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired 0

13 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

14 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

15 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

16 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

17 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

18 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

19 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

20 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

21 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

22 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired 0

23 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

24 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

25 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

26 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

27 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

28 CASH FARM EXPENSES Date Num Paid To 0 0 TOTALS Total Amount Paid Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

29 CASH FARM EXPENSES (CONTINUED) Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock

30 CASH FARM EXPENSE TOTALS TOTAL CASH EXPENSES By Pages (if record kept continuously) Pages and Pages and Pages and Pages 0 and Pages and Pages and Pages and Pages and Pages 0 and 0 Pages and Pages and Pages and TOTAL CASH EXPENSES By Months (if recorded kept by month) January February March April May June July August September 0 October November December TOTAL CASH EXPENSES Total Payroll Feed Purchases Veterinary Fertilizer and Lime Seeds and Plants Chemicals Custom Work Hired

31 CASH FARM EXPENSES TOTALS (CONTINUED) 0 0 Repairs and Maintenance Purchases Fuel, Oil and Grease Machinery Equipment Buildings and Facilities Utilities Tax, Interest & Insurance Rent / Lease Payments Supplies Other Farm Principal Payments Capital Items & Livestock 0

32 CASH FARM INCOME - EXAMPLE Crops Livestock Products Date Num Sold To Total Income OATS Dairy Other / Bunge Corporation bu $.00 bu / Brown Livestock Sales calves (av $0. lb), 00 TOTALS, Date Enter the date the activity or event took place. Num Enter the sales receipt or invoice number. Sold To Enter the name of the person or company purchasing the product. Describe briefly the item of income - kind, quantity and price. () Total Income Enter the total amount received from the sale. The total of this column should equal the sum of columns through. (NOTE : If a share of the production is given in lieu of any cash farm expense and the value of this share was entered as an expense, a compensating entry of the same amount should be entered in the appropriate column in this section.) ( - ) Crops: Write in the headings needed for columns through. Enter crop income in the appropriate column. () Livestock Products Dairy Enter income from livestock products such as milk, cream, butter and other dairy products. () Livestock Products Other Enter income from livestock products such as hides, eggs, feathers, wool, bees, poultry litter, honey and other miscellaneous products. 0

33 Resale of Purchased Livestock CASH FARM INCOME - EXAMPLE (CONTINUED) 0 Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Raised, 00, 00 () Resale of Purchased Livestock Enter the value of animals purchased to be resold later, such as ryegrass calves, replacement heifers, stocker cows, etc. (0) Livestock - Raised Cattle and Calves Breeding Livestock Enter the value of cattle and calves sold. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. () Livestock - Hogs / Sheep Enter the value of hogs and sheep sold. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. () Livestock - Poultry Enter the value of poultry sold such as chickens, turkeys, ducks, etc. If purchased and raised livestock are sold at the same time, use two lines and indicate sale in column. ( - ) Livestock - Other Enter income from "other" livestock such as horses, mules, goats, etc. ( - ) Other Farm Income Write in headings for columns through as needed. Enter income from such items as custom work, government program payments, refunds, machine work, farm work, off-farm work and other sources of farm income. () Capital Sales - Equipment Enter the sales value of equipment. () Capital Sales - Breeding Livestock Enter the sales value of breeding livestock.

34 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other

35 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

36 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other

37 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

38 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other

39 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

40 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other

41 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

42 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other 0

43 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

44 Date Num Sold To 0 0 TOTALS CASH FARM INCOME Crops Livestock Products Total Income Dairy Other

45 CASH FARM INCOME (CONTINUED) Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock

46 TOTAL CASH INCOME Date By Pages (if record kept continuously) Pages and Pages and Pages and Pages and Pages 0 and Pages and TOTAL CASH INCOME CASH FARM INCOME TOTALS Crops Livestock Products Total Income Dairy Other By Month (if record kept by month) January February March April May June July August September 0 October November December TOTAL CASH INCOME

47 CASH FARM INCOME TOTALS (CONTINUED) 0 Livestock Other Farm Income Capital Sales Raised Cattle and Calves Hogs / Sheep Poultry Other Other Equipment Resale of Purchased Livestock Breeding Livestock 0

48 FARM CASH FLOW Value EXPENSE ITEMS This Year's Next Year's Results Results INCOME ITEMS Payroll Crop: Feed Purchases Crop: Veterinary Crop: Fertilizer and Lime Crop: Seeds and Plants Crop: Chemicals Livestock Products: Dairy Custom Work Hired Livestock Products: Other Fuel, Oil and Grease Resale of Purchased Livestock 0 Repairs & Maintenance: Machinery 0 Livestock: Raised Cattle & Calves Repairs & Maintenance: Equipment Livestock: Hogs / Sheep Repairs & Maintenance: Buildings and Facilities Livestock: Poultry Utilities Livestock: Other Tax, Interest and Insurance Livestock: Other Rent / Lease Payments Other Farm Income: Supplies Other Farm Income: Other Farm Other Farm Income: TOTAL CASH OPERATING EXPENSES TOTAL CASH SALES (Sum rows through ) (Sum rows through ) Principal Payments Capital Sales: Equipment 0 Purchases: Capital Items & Livestock 0 Capital Sales: Breeding Livestock TOTAL CASH OUTFLOWS (Sum ++0) TOTAL CASH INFLOWS (Sum ++0) This Year's Results Value Next Year's Results TOTAL CASH OUTFLOWS (minus) NET FARM CASH FLOW** **NET FARM CASH FLOW = TOTAL CASH INFLOWS - TOTAL CASH OUTFLOWS

49 INCOME STATEMENT Name: Date: OPERATING RECEIPTS GROSS RECEIPTS FROM FARMING Crop Sales: CASH FARM EXPENSES Payroll Feed Purchases Veterinary Fertilizer and Lime TOTAL CROP SALES Seeds and Plants Chemicals Livestock Products: Custom Work Hired Dairy Fuel, Oil and Grease Other Repairs & Maintenance: TOTAL LIVESTOCK PRODUCTS Machinery Equipment Resale of Purchased Livestock Buildings & Facilities Utilities Livestock Sales: Taxes, Insurance & Interest Payments Raised Cattle & Calves Rent / Lease Payments Hogs / Sheep Supplies Poultry Other Farm Other TOTAL CASH EXPENSES Other TOTAL LIVESTOCK SALES Other Farm Income: TOTAL OTHER FARM INCOME GROSS RECEIPTS FROM FARMING NET CASH INCOME FROM OPERATIONS

50 INCOME STATEMENT - (CONTINUED) NET CASH INCOME FROM OPERATIONS ADJUSTMENTS FOR CHANGES IN INVENTORIES & ACCRUED RECEIPT-EXPENSE ITEMS Inventories: Ending Inventory Beginning Inventory Change (End - Beg) Inventories: Ending Inventory Beginning Inventory Change (End - Beg) Accounts Receivable and Prepaid Expense Inventory: Ending Inventory Beginning Inventory Change (End-Beg) Supplies Stored Crops Growing Crops Market Livestock Accounts Receivable Prepaid ADJUSTMENTS FOR CAPITAL ITEMS Depreciation (minus) Gain or Loss on Sale of Capital Items (plus / minus) NET FARM INCOME NONFARM INCOME Wages Gifts TOTAL NET INCOME NONFARM EXPENSES Family Living Income & Self-employment Taxes CHANGE IN NET WORTH

51 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining

52 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining 0

53 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining

54 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining

55 OPERATING LOAN / OPEN ACCOUNTS Lender: Contact: Address: Telephone: Fax: Interest Rate: Limit: Date Due: Collateral: Other Information: Date Activity Increase Decrease Balance Credit Remaining

56 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES

57 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

58 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES

59 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

60 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES

61 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

62 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES 0

63 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

64 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES

65 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

66 ENTERPRISE ANALYSIS Commodity: Location: Number of Acres: Total Production: Item Total Per Acre Per Unit OPERATING RECEIPTS TOTAL OPERATING RECEIPTS OPERATING EXPENSES Hired Labor Machinery Repair Drying Interest Rent Seed Fertilizer Pesticides and Spray Materials Other Supplies Machinery Hire Fuel and Oil Property Tax Real Estate Tax Water Charges Property Insurance Auto and Truck Utilities TOTAL OPERATING EXPENSES

67 ENTERPRISE ANALYSIS - (CONTINUED) ALLOCATED OVERHEAD COSTS Capital Purchases: Item Total Per Acre Per Unit TOTAL CAPITAL PURCHASES Family Living Income & Self-employment Taxes Other Debt Service: Intermediate - Interest - Principal Long-term - Interest - Principal TOTAL OTHER OUTFLOWS TOTAL CASH OUTFLOWS DIFFERENCE

68 LEASE AGREEMENTS Lessor (name, address, telephone) Property Identification Acres Total Used Written Lease Share Terms of Lease

69 LEASE AGREEMENTS Lessor (name, address, telephone) Property Identification Acres Total Used Written Lease Share Terms of Lease

70 CROP MIX - EXAMPLE NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre Corn 00,000 0 Corn,00 0 Corn home 0,0 TOTALS - CORN,0 0. Soybean 0,0 Soybean 00,000 0 TOTALS - SOYBEAN 0,0.

71 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre

72 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre 0

73 CROP MIX NAME OF CROP Field Number Number of Acres Total Production Average Yield per Acre

74 MISCELLANEOUS INFORMATION Fahrenheit = [ (Degrees Centigrade x ) / ] = Centigrade = [ x (Degrees Fahrenheit - ) ] / CUBIC MEASURE Relation of Diameter to Capacity of Pipe: Doubling the COMMON MEASURING UNITS - DRY MEASURE cubic foot, cubic inches diameter of a pipe or cylindrical vessel increases its cubic foot.0 quarts cubic yard cubic feet capacity four times. cubic foot. quarts cubic cord (wood) cubic feet cubic foot.0 pecks ton (shipping) 0 cubic feet Properties of the Circle: cubic foot 0.0 bushels standard gallon cubic inches Area of a Circle = (Diameter) x 0. bushel 0. cubic inches Area of a Circle = (Radius) x. bushel. cubic feet SQUARE MEASURE Circumference of a Circle = Diameter x. square foot square inches Diameter of a Circle = Circumference x 0. METRIC MEASURES AND EQUIVALENTS - LENGTHS square yard square feet millimeter square rod 0 / feet Volume of a Cordwood Pile: centimeter = 0 millimeters = 0.0 inch rood 0 square rods (Length x Width x Height) / = Volume of Pile meter = 00 centimeters = 0. inch acre roods kilometer = 000 meters =. inch acre 0 square rods Capacity of a Square Tank in Gallons: inch =. millimeters = 0. mile square mile 0 acres (Length x Width x Height) x. = Number of Gallons foot = 0. millimeters acre,0 square feet yard =. millimeters Capacity of a Cylindrical Tank in Gallons: mile = 0 meters LONG MEASURE { (Diameter in inches) x Height in inches] x 0. foot inches Point off four decimals to get the capacity in gallons METRIC MEASURES AND EQUIVALENTS - LIQUIDS yard feet liter = 00 cubic centimeters of.0 quarts rod / yards or / feet Number of Acres in a Field: U.S. quart = 0. liter furlong 0 rods (Length in rods x Width in rods) / 0 = Acres in Field U.S. gallon =. liters When the opposite sides are unequal, add them and take WEIGHT OF WATER half the sum for the mean length or width. METRIC MEASURES AND EQUIVALENTS - WEIGHT cubic foot. pounds gram = 000 milligrams. grains cubic foot. 0 U.S. gallons Height of a Tree or Building: Set up a stick and measure kilogram = 000 grams.0 pounds U.S. gallon. pounds its shadow. Measure the length of the tree's shadow. metric ton = 000 kilograms 0. pounds grain = 0. 0 gram COMMON MEASURING UNITS - LIQUID MEASURE (Length of Tree's Shadow x Height of Stick) ounce =. grams cubic foot. pints Length of Stick's Shadow pound =. grams cubic foot. quarts ton = 0. kilograms cubic foot. gallons

75 Visit our website: Louisiana Farm Record Book information provided by: Department of Agricultural Economics and Agribusiness LSU AgCenter Louisiana State University Agricultural Center William B. Richardson, Chancellor Louisiana Agricultural Experiment Station John S. Russin, Vice Chancellor and Director Louisiana Cooperative Extension Service Paul D. Coreil, Vice Chancellor and Director Visit our Online Store at to purchase additional copies of the Farm Record Book and other publications produced by the LSU Agcenter. Orders also may be placed by calling --. Pub. 0/ Rev. The LSU AgCenter is a statewide campus of the LSU System and provides equal opportunities in programs and employment.

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